Should lockdown days be considered for Bonus eligible days?
From India, Kolhapur
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From India, Kolhapur
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Bonus Payable Under the Payment of Bonus Act, 1965
Bonus is payable under the Payment of Bonus Act, 1965 to employees depending on the eligibility of their threshold salary under section 2(13). It has to be calculated and paid as a percentage of the total salary earned if they have worked for not less than 30 working days in any accounting year.
Lockdown Period and Bonus Calculation
Lockdown is a period of no employment analogous to a layoff. Therefore, if any compensation is received by the employees during the lockdown, it has to be added to the wages earned in the accounting year for the purpose of statutory bonus. If no wages or compensation is paid by the employer during the period of lockdown, that is a different issue. In such a situation, the bonus becomes payable based on the actual salary received in the accounting for the remaining period.
From India, Salem
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6108Bonus is payable under the Payment of Bonus Act, 1965 to employees depending on the eligibility of their threshold salary under section 2(13). It has to be calculated and paid as a percentage of the total salary earned if they have worked for not less than 30 working days in any accounting year.
Lockdown Period and Bonus Calculation
Lockdown is a period of no employment analogous to a layoff. Therefore, if any compensation is received by the employees during the lockdown, it has to be added to the wages earned in the accounting year for the purpose of statutory bonus. If no wages or compensation is paid by the employer during the period of lockdown, that is a different issue. In such a situation, the bonus becomes payable based on the actual salary received in the accounting for the remaining period.
From India, Salem
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Amendment to Payment of Bonus Act 2015.jpg
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THE PAYMENT OF BONUS ACT.doc